Drycleaning and Laundry Services Loans

Looking for loans for drycleaning and laundry services? Talk to a banker who works with the SBA. This $237,120 drycleaning and laundry services loan was issued by a North Carolina bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Newbridge Bank, out of Greensboro, North Carolina. The loan was granted and they received $237,120 to help grow their High Point, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
HIGH POINT, NC 27263

SBA Loan Lender

NEWBRIDGE BANK
3202 RANDLEMAN RD
GREENSBORO, NC 27406

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

4/30/2001

Loan Approval Gross Amount

$237,120

Loan Approval from the SBA

Of the total $237,120 loan amount, the SBA guaranteed $177,840.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

How to Raise Money

SBA Participating Banks in Greensboro, North Carolina

North Carolina SBA Banks